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Alternative Energy - Friday, January 11, 2008

For Lithium Ion's A123 Systems, It's Go Time

The Wall Street Journal gives some front page love to A123 Systems. The startup has raised $132M from Sequoia Capital and others and says it plans an IPO as early as this year. A123 Systems's Lithium Ion batteries have won some nice business including broad use by Black and Decker.

But the big play is with car batteries for the next generation of hybrid cars. The Journal indicates that Japanese auto makers have stumbled in their lead with hybrid cars as their specs for lithium ion batteries produced prototypes that may burst into flames.

A123 made GM's short list of potential battery vendors for its Chevy Volt hybrid car which the company plans to roll out in 3 years. The company's CEO says that A123 has the chance of a lifetime in the next few years and if it misses that its a goner.

Read - WSJ